Prime Ministers of India Essay

The Prime Minister of India, as addressed to in the Constitution of India, is the chief of government, chief advisor to the President of India, head of the Council of Ministers and the leader of the majority party in parliament. The prime minister leads the executive branch of the Government of India. The prime minister is the senior member of cabinet in the executive branch of government in a parliamentary system. The prime minister selects and can dismiss other members of the cabinet; allocates posts to members within the Government; is the presiding member and chairman of the cabinet and is responsible for bringing proposal of legislation. The resignation or death of the prime minister dissolves the cabinet. The prime minister is appointed by the president to assist the latter in the administration of the affairs of the executive. Current Prime Minister – The incumbent prime minister is Manmohan Singh, in office since 22 May 2004. Role and power of the prime minister The prime minister leads the functioning and exercise of authority of the Government of India. He is invited by the President of India in the Parliament of India as leader of the majority party to form a government at the federal level (known as Central or Union Government in India) and exercise its powers. In practice the prime minister nominates the members of their Council of Ministers[3][4][5] to the president. The prime minister represents the country in various delegations, high level meetings and international organisations that require the attendance of the highest government office[9] and also addresses to the nation on various issues of national or other importance. Selection process Eligibility A prime minister must: * be a citizen of India. * be a member of the Lok Sabha or the Rajya Sabha. * be above 25 years of age if he is a member of Lok Sabha or above 30 years of age if he is a member of the Rajya Sabha. * not hold any office of profit under the Government of India or the Government of any State or under any local or other authority Oath The Prime Minister is required to make and subscribe in the presence of President of India before entering office, the oath of office and secrecy. Prime Ministers of India 1. Jawaharlal Nehru (15th August 1947 – 27 May 1964) 2. Gulzarilal Nanda ( 27 May 1964 – 9 June 1964) 3. Lal Bahadur Shastri (9 June 1964 – 11 January 1966) 4. Indira Gandhi (24 January 1966 – 24 March 1977, 14 June 1980 – 31 October 1984) 5. Morarji Desai (24March 1977 – 28 July 1979) 6. CHaran Singh (28 July 1979 – 14 January 1980) 7. Rajiv Gandhi ( 31 October 1984 – 2 December 1989) 8. Vishwanath Pratap Singh ( 2 Decemeber 1989 – 10 November 1990) 9. Chandra Shekhar (10 November 1990 – 21 June 1991) 10. P.V. Narsimha Rao ( 21 June 1991 – 16 May 1996) 11. H.D.Deve. Gowda (1 june 1996 – 21 April 1997) 12. I.K. Gujral (21 April 1997 – 19 March 1998) 13. Atal Bihari Vajpayee ( 19 March 1998 – 22 May 2004) 14. Manmohan Singh ( 22 May 2004 – till now)

The Letter of Complaint

Dear Sir/ Madam I am writing to you in order to complain about your package holidays in Greece where I have been last two weeks. On 25 August 2011 from your company I bought a two – week holiday in Greece. Unfortunately, your package holiday was unfaithful and misleading. I am disappointed because everything that was said in your brochure was a lay. When I arrived to Greece I found an overflowing resort with a lot of tourists instead of peaceful island where I had to relax.Moreover, in PTC’s brochure were said that there was miles of empty golden sands but the nearest beach to the hotel was a kilometre away and very rocky. Furthermore, I could reach the mainland with a ferry which ran only three times a week and were very crowded. In addition, your company made a promise that there was a traditional Greek hospitality in a comfortable family run hotel full of a local atmosphere but I could not find the traditional Greek dishes and everywhere was a holiday- camp atmospher e.To resolve the problem, I would appreciate your money back. Moreover, I require you to correct your mistakes and do not deceive your clients. Furthermore, I hope you will make me a discount for another holiday package, if liked to go for my holidays. I trust you will ensure that such errors will not happen again. I look forward to your replay and a resolution to my problem. Please contact me at the above address or by phone. Yours faithfully,

Un-redd programme on forest management in Cameroon Thesis

Un-redd programme on forest management in Cameroon - Thesis Example It uses the convening power and expertise of the Food and Agriculture Organization (FAO) of the United Nations, the United Nations Development Programme (UNDP) and the United Nations Environment Programme (UNEP). The UN-REDD Programme has 29 partner countries across Africa, Asia-Pacific and Latin America; of these 13 receive support to National Programme activities. The Central African Republic including Cameroon, besides other countries such as Argentina, Bangladesh, Bhutan, Colombia, Costa Rica, Ethiopia, Gabon, Guatemala, Guyana, and several others not receiving direct support to national programmes engage with the Programme in a number of ways such as observers to the Programme’s Policy Board, and through participation in regional workshops and knowledge sharing enabled by the Programme’s interactive online workspace (UN-REDD 2009). Thesis Statement: The purpose of this paper is to investigate the UN-REDD Programme in developing countries, particularly in Cameroon in Central Africa. The UN-REDD, its goals, objectives and targets in Cameroon, the UN-REDD in relation to governance, corruption and sustainable development in Cameroon, as well as the challenges or shortcomings in reducing greenhouse gas emissions from deforestation and forest degradation in Cameroon will be examined. Reform in the Rainforests of Cameroon Cameroon, is a tropical country in Central Africa and part of the Congo Basin. â€Å"It contains the largest piece of rainforest on the African continent and the second largest area of contiguous moist tropical forest of the world† (Westholm, Henders, Ostwald & Mattson 2009: 44). Cameroon continues to have vast forest resources, and is at the forefront of forestry sector reform in Africa. It is expected that the country will play a constructive role in Reducing Emissions from Deforestation and forest Degradation (REDD). Cameroon has a population of 16.5 million inhabitants, of which about 30,000 indigenous people live on an area of 4,75,000 square kilometers. A part of the vast 198 million hectares Congo Basin rainforest is in Cameroon, covering 16.9 million hectares, forming 40 percent of the national territory. This forest is rich in fauna and flora providing â€Å"food, medicines, fuel wood and construction materials for about 8 million rural Cameroonians† (Aronsen, Lindhjem & Braten 2010: 7). The forestry sector forms the core of the Cameroonian economy, generating about 13,000 formal and 1,50,000 informal jobs, thus becoming the largest employer outside the public sector. Timber is the second largest source of export revenues after petroleum, accounting for 4.8 percent of non-petroleum GDP in 2004 (Aronsen et al 2010). â€Å"The deforestation rate is 1,53,700 hectares per year, or 0.72%, according to the National communication, although latest assessments ha ve yielded much lower rates† (Westholm et al 2009: 44). From the year 1994, Cameroon regulated access to its rainforests, balanced public and private interests in those forests, and combined a broad range of economic, cultural, and environmental approaches to the value of the forests, by introducing regulatory and market-based reforms. According to Topa, Megevand and Karsenty (2009), reports based on evidence from historical data and extensive interviews indicate that the reforms brought order among the most highly competing interests, and addressed vital environmental and social issues; however a significant part of the agenda remains incomplete. The reports provide information to the public on the boundaries, ownership, use rights, and management of Cameroon’s rainforests, together with detection and prosecution of illegal activities. There has been

Econ Assignment Essay Example | Topics and Well Written Essays - 1000 words

Econ Assignment - Essay Example The fall in income earned by the consumers in the U.S. could be viewed as its impact on the current account. It is estimated that almost 10% of every Dollar spent by U.S. customers is on purchase of imported goods (Kaplan) however as the income falls in the U.S. the customers demand for imported goods will surely be affected. As consumers spend less on goods and services the proportion they spend on imports will reduce. The effect would be rising current account surplus and positive balance of payments. If the inflation in the foreign country increases it will have an upward effect on the cost of production in that country and making its exports to the U.S. more expensive than its imports. This suggests that U.S. consumers would end up paying more for imported goods that will provoke them to switch over to less costly goods produced domestically (Kaplan). This can also have a reverse effect on the U.S. exports thereby increasing the current account surplus with that country in the short run till inflation remains comparatively higher in the foreign country. The interest rate fall in the U.S. has its impact on the capital account of the country. The decline in interest rates in the U.S. implies the reduction in the return on savings and relative return in the financial markets of the U.S. This suggests that foreign investors will be reluctant to invest in the financial markets who will be seeking greater returns in other foreign markets. This makes the local financial markets unattractive and may lead to outflow of funds through capital markets. The exchange rate is the relative price of a currency against other currencies. The exchange rate is typically driven by the demand and supply of the currency. As consumers will use less of the local currency due to fall in their income it suggests a lower demand for it as less money will be spent on imported goods and services therefore its supply dampens. The net result is decline in the exchange rate against

Critique of Memo Paris in The Natural by Bernard Malamud Essay

Critique of Memo Paris in The Natural by Bernard Malamud - Essay Example The essay "Critique of Memo Paris in The Natural by Bernard Malamud" talks about one of the major women characters playing a critical role in the novel â€Å"The Natural† by Bernard Malamud. The memo is depicted as a destructive and materialistic seductress. The character depiction is critically important for the overall storytelling experience in the novel in a number of ways. This is particularly because of the author, Bernard Malamud has skillfully used women characters to advance the themes of the story by presenting them as either saviors or destroyers. Memo Paris character as a destructive force is counterbalanced by the character Iris Lemon who is presented as a constructive and life force. This critique argues that the character Memo Paris plays a critical role of a villain and destructive force behind all the novel’s scenes who eventually brings the protagonist’s fall.Throughout the novel, â€Å"natural† villain characters like Memo Paris are used to provide an important thematic setting that stems from a variety of different mythological stories. According to Griffith â€Å"..you can locate the possible themes of a story or novel based on the actions or the behaviors of the major characters†. The character Memo Paris has been particularly used by the author to bring out the despicable and destructive nature of women. This is particularly seen in when Memo ends up playing a critical role in the eventual destruction of Roy’s career.

The price elasticity of gasoline in the United States has been Essay

The price elasticity of gasoline in the United States has been estimated to be 0.15. if this is so, should profit maximizing gasoline stations raise their prices Explain why or why not - Essay Example Since gasoline is considered as normal goods the income elasticity will be positive. The estimated price elasticity will vary according to income, demography and the geography. The demand for gasoline is closely associated with the fuel economy of the vehicles. If the price of the gasoline rises the profit maximizing gasoline companies will not be able to raise the prices according to their wish as in such cases the consumers will shift to the more fuel efficient vehicles which will ultimately lead to a fall in demand conditions for gasoline1. The rebounding effect will have a role to play in this case. The organizations may witness a rise in demand in the short run but in the long run the demand will not be persistent and in fact the demand will fall further than expected. Gillingham, K. 2011. How Do Consumers Respond to Gasoline Price Shocks? Heterogeneity in Vehicle Choice and Driving Behavior. Available at: http://www.umass.edu/resec/seminars/docs/Gillingham_ConsumerResponseGasPrices.pdf. [Accessed: 18th October,

Discussion Board 7-2 Essay Example | Topics and Well Written Essays - 250 words

Discussion Board 7-2 - Essay Example Psychoanalysis therapy deals with individuals and analyzes their cognition with respect to the environment. Experiential Family Therapy views family problems as associated with emotions that members confide within themselves. Negative emotions work to maintain family problems and can only end upon encouragement of open and honest communication among the members. This theory can help therapists to explore possibility of negative emotions that lead to dysfunctional relationships, which maintain the given problems. As explained by Nichols (2013), Structural Family Therapy holds that families are structures made of subsystems regulated by boundaries defining interpersonal relationships. With this theory, therapists can track history of the family and study the entire generational structures responsible for the given problems. Systems Family Therapy attributes family problems to dysfunctional hierarchies and unclear boundaries and roles. This sometimes makes children feel burdened with responsibilities that should belong to the elder parents and siblings (Nichols, 2013). With this theory, therapists are able to investigate, analyze and evaluate family systems to understand and destroy dysfunctional

Researching Cancer Essay Example | Topics and Well Written Essays - 500 words - 1

Researching Cancer - Essay Example The part next to the vagina is the  exocervix (or ectocervix).  The 2 main types of cells covering the cervix are  squamous  cells (on the exocervix)  and  glandular  cells (on the endocervix). The place where these 2 cell types meet is called the  transformation zone. Most cervical cancers start in the transformation zone (Cancer.org. What is Cervical Cancer, 2012). The American Cancer Society estimates that more than 12,000 women develop cervical cancer each year in the United States and about 4,200 die from it. Worldwide, it continues to be the second most common type of cancer in women (after breast cancer). Each year, about 500,000 women are diagnosed with cervical cancer and approximately 250,000 die from it (Labtestsonline: Cervical Cancer, 2012). Most cervical cancers begin in the cells lining the cervix. These cells do not suddenly change into cancer. Instead, the normal cells of the cervix first gradually develop pre-cancerous changes that turn into cancer. Doctors use several terms to describe these pre-cancerous changes, including cervical intraepithelial neoplasia (CIN), squamous intraepithelial lesion (SIL), and dysplasia.  There are 2 main types of cervical cancers:  squamous cell carcinoma  and  adenocarcinoma. About 80% to 90% of cervical cancers are squamous cell carcinomas. These cancers are from the squamous cells that cover the surface of the exocervix. Under the microscope, this type of cancer is made up of cells that are like squamous cells. Squamous cell carcinomas most often begin where the exocervix joins the endocervix (Cancer.org, 2012). Most of the other cervical cancers are adenocarcinomas. Cervical adenocarcinomas seem to have becoming more common in the past 20 to 30 years. Cervical adenocarcinoma develops from the mucus-producing gland cells of the endocervix. Less commonly, cervical cancers have features of both squamous cell carcinomas and adenocarcinomas. These are called  adenosquamous carcinomas  or mixed carcinomas

Relationship banking Essay Example | Topics and Well Written Essays - 1500 words

Relationship banking - Essay Example Sale of banking products has become extremely competitive. This paper will discuss how relationship marketing has penetrated the banking sector and what are its pitfalls or benefits. It will also discuss the type of relationship that banks have with customers and what marketing activities it performs to establish and maintain such relationships. Banks have adopted the concepts of marketing in the highly competitive market as the consumers have become highly literate and empowered. Customers are increasingly using technology for using banking services, and hence the bank-customer relationship have become of great importance. To stimulate the improvement in the quality of service from the banks, deregulation brought in a range of suppliers in the financial services (Durkin & Howcroft, 2003). Because of the pressure on the bank margins from new competitors, banks have had to reengineer their internal and external delivery process to make profits. Technology is used to increase market share and reduce costs. Banks have been forced to consider this because in the new and emerging delivery channels the bank-customer interactions do not involve face to face contact. Relationship marketing (RM) means to identify, establish, maintain and enhance, and when necessary even to terminate relationships with customers and other stakeholders. In doing do both parties gain and the objectives have been met (Durkin & Howcorft, 2003). This conforms to Gummesson’s concept of relationship marketing. Thus it involves mutual satisfaction, gains and attainment of objectives. In RM the customer is treated as a partner and their needs are identified, and loyalty developed through quality service (Fjà ¤llborg, Morin, Mannberg, Rosell & Heckscher, 2005). Relationship between the buyer and seller differs across industries and firms and customer service forms the core of RM. Effective customer service creates

Logic gates characteristics Lab Report Example | Topics and Well Written Essays - 1250 words

Logic gates characteristics - Lab Report Example Also, an XOR (Exclusive- OR) which is sometimes called an inequality comparator implements the expression such that â€Å"if A is different than B then X is true. Sometimes a buffer may be used between the inputs and output of a logic circuit. The buffer helps to increase the fan-in of the circuit. The XOR gate is commonly used as a buffer to supply a 0 or a1to one of its inputs. Multiplexers behave like rotary switches and select any one of its inputs as output. It is a combination of logic gates thereby having several inputs with only one output. The input channel to be read into the output is controlled by supplying a definite digital word to the select inputs. In experiments using microelectronic chips such as the Multiplexer ICs, care should be taken when handling so as not to expose the chips to static hazards. The input lines to a multiplexer chip are 2, 4, 8 or 16 that supply the output one at a time. They are used to reduce the number of logic gates required to implement th e circuit. Digital multiplexers are constructed from analogue switches encased in a single IC package. The multiplexer is used in signal routing, data communications and data bus control. They can be used together with a demultiplexer to transmit parallel data in serial form through a single data link e.g. fibre optic cable. Multiplexers are also used a A/D converters thereby reducing the amount of heat dissipated (Bate, 1988). Aim To use a digital logic circuits to decode an industrial control system, and to test an equivalent logic decoding circuit using a multiplexer chip. Procedure The control system of a bottled water factory is designed to follow specific process to control the filling upon receiving specific instructions. The process will halt with logic zero output. The processing plant sensors produce logic level outputs for the following devices. B – Bottle Position Correct Position= logic 1, and an incorrect position = 0 W – Water level low Water level low = logic 0, and water level satisfactory = 1 V – Flow Valve Position: Flow valve open = logic 0, and flow valve closed = 1 F – Water Filtration System: Filtration blocked= logic 0, and filtration working = 1 This process is halted on the following conditions: When the bottle position is incorrect and it is filling and this is indicated by an open flow valve. Or if the water level is low, but not when the flow valve is open. Also, if the Filtration is blocked, but only if the Flow valve is closed and the water level is not low. Also, if the Flow valve is open, and if the bottle position is incorrect or water level remains low. Discussion Full truth table of the industrial control process is shown below; The above conditions for halting the process can be simplified as shown here under, Position, P = 0 if; 1). (B= 0).(V=0) 2). (W = 0) (V= 0) = (W = 0). (V= 1) 3) (F = 0). (V= 1). (W = 1) 4). (V = 0). (B = 0). (W= 0) P= X: (V=0). (W=1) Truth Table. The above truth table can be simplified using the Karnaugh Map shown below; From the K- map it is clear that P = W.F. This can be implemented using the circuit shown below; B W V F P The circuit was built using the 74LS151 microchip as shown below and tested to find out if the desired result is obtained. The output Z was tested and found to follow the truth table shown here under, The tested output is found to quite agree with the results in the first truth table.

Probation and Parole in the United States Essay Example for Free

Probation and Parole in the United States Essay Abstract Employee security problems and high risk caseloads progressively will move agents away from customary probation ideas of casework in the direction of ideas lined up with control or disciplinary beliefs. This study analyzes how the role of probation and parole has altered and what the future will be like counting on how we respond to the alterations at hand. This study also reviews changes in the criminal policies that have transpired. Probation and Parole in the United States: Changes in the Correctional System since World War II Under Florida law, the Department of Corrections is to keep the public safe and out of harm’s way, supply a protected and friendly environment for employees and criminals; work in joint venture with the community to add programs and services to lawbreakers; and oversee criminals at a grade of security appropriate with the hazards they present (Florida Department of Corrections, 1992). These duties pose marvelous trials for the employee’s management of the Florida Department of Corrections and the corrupt justice system as a whole. To have an insignificant impact on these matters, the system must make some foremost changes in how corrupt justice is distributed. This is necessary as the crime rates continue to rise; as courts misplace their influence in deterring crime by equalizing quick, rigid sentences; as correctional organizations accept inmates today and let them go tomorrow to ease overcrowding; and as criminals become more dangerous. The penalties of our failure to arise the surge of crime are frightening. An article in USA Today (1991) stated: Probation agencies have become seriously under-staffed just as they are being depended upon more strongly than any issue in history; probation, rather than prison, is the most widespread pattern of punishment. Probation agents have become less and less engaged in  their usual function, more connected to communal work and are more absorbed with law enforcement, following down those who have defied the periods of flexibility. Regardless of an astounding increase in the number of institutional facilities, an exceptional number of criminals have been put under strict watch in the community. The Florida Department of Corrections has more than 100,000 felony criminals under supervision in Florida communities. If it were not for overcrowding, numerous of these criminals would be assisting long sentences in state organizations. Regulation enforcement, the court, the correctional system, and probation and parole have the same duties for the malfunction of the criminal justice system. The difficulties documented above are huge. To deal with these difficulties, much of what we do and how we do it will need to be different. Many inside and outside alterations currently have been made to respond to the individual safety concerns of probation/parole agents in Florida: adjustment of agencies to provide for larger employee security, soft body armor, and firearms. This study task calculates areas where change is required, as well as obstacles that stand in the way of change. According to Edward W. Sieh (1990), Over the past so many years, probation communities have grown to more than 18% compared to about 15% in jail and prison communities and almost 13% in the number of paroles. Close to 2/3 of the complete correctional community was under probation supervision in the community at the end of 1985. Sieh decided that huge alterations in the criminal community have led to alterations in sentencing, as well as in how officers are expected or needed to do their job. Twenty-five percent of convicted felony criminals get probation. Other judgments encompass complete supervision and shock probation. Sieh’s study recognized two essential forms for overseeing criminals—â€Å"remedy† and â€Å"justice†. The remedy model demonstrates customary  casework and rehabilitation, and assesses change within the system. Sieh attacked the remedy mode, showing that it is inherently violent and unjust. It supposes a power over the impulse of criminals, out of capacity to their incorrect doing; it ignores information about the communal rather than therapeutic basis of crimes, and it treats clients as absolute objects of disciplinary policy to manipulate at a whim. The justice standard deals with the increasing occurrence of punishment. Sieh accepts that the standard was made from public appeal for belief of punishment with the smallest risk to the community. In his description of the justice standard, the officer is not at all worried about assisting alterations in the criminal, court instructions become the direction for supervision. Criminal success or failure counts upon his/her agreement with the conditions of supervision, and not the blame of the officer or the system. Complete supervision, in his outlook, is a process of the justice standard. Sieh assumed that the system is moving firmly nearer to a disciplinary one—the justice standard. He questioned contemporaries in the field to gaze for equity. Harris, Clear, and Baird (1989) discovered that the probation system completely extends to support remedy beliefs. Morran and Linder (1985) were in unison. They found more considerably, that electronic devices, sophisticated drug and alcohol area testing kits, and computerized information of new arrests are assisting to a larger focus of the law enforcement duty. Many of the criminals who carry out crimes are presently under supervision. Collaboration between regulation enforcement and probation would increase effectiveness. At the same time, supply for larger security for probation officers who might otherwise be needed to make late evening calls to tough positions without backup would not hurt either. Ten years before, supervising the whereabouts of a criminal by the use of an electronic monitor emerged light years away. Cold War undercover operations employed the use of electrical monitoring apparatus. The Florida corrections  system has intensely cooperated in a supervising program for more than ten years. Today, 800 criminals are under electrical monitoring oversight. The courts have vigorously approved the use of the apparatus. It is expected that the electrical monitoring will be utilized at elevated rates in the future. Between 1984 and 1988 the probation caseload went higher from 1.74 million to 2.36 million individuals (Bureau of Justice Statistics, 1989). Numerous administrations have furthermore noticed that the probation populations are criminals who often begin with a high risk of threat to the probation agents (Guynes, 1988, Petersilla, Turner, Kahan, Paterson, 1985; Snyder, 1986). It is without question very necessary that officers are supplied with an access of security to make sure that they don’t become victims. The future is ours to shape and change, or to just let it occur. Given a perception of much important advancement, we should start to increase the speed of some of the more attractive future anticipations and slow up those with less attractive anticipations. To adjust the course of unattractive purposes, the setting up of balancing standards and practices will be needed.

Impact of Detention Centres on Asylum Seekers

Impact of Detention Centres on Asylum Seekers BUSINESS REPORT: Asylum seekers Executive Summary This report outlines the impact of detention centres where those seeking asylum in Australia are placed. It examines the issues relating to detention centres and consequences of them. As it is repeatedly demonstrated by research, there is a uniform trend highlighting the trauma and the sufferings of asylum seekers during their stay at Australian detention centres. This is due to the inadequate facilities and the lengthy duration of time which asylum seekers are forced to spend in these detention centres. Adequate facilities are especially important for young asylum seekers as they endure sorrow to a greater extent. When viewing this issue from a global perspective, approximately 51.2 million people are displaced as a result of conflict or prosecution every year and close to 50% of this number are children (UNHCR 2014). These numbers provide reasons for provision of all the required facilities and faster processing systems to reduce the time at the detention centres. This report examines the main causes of mental health issues and the difficulties of integrating into a new society amongst asylum seekers especially, young asylum seekers and provides possible solutions to ensure that asylum seekers transit into the new society comfortably.   Ã‚   Issue Discussion Facilities Rwandan genocide and Syrian war (caused by the Arab spring) cause a large inflow of asylum seekers to Australia (Keller 2003, p.1721). Asylum seekers are detained indefinitely in conditions that abuse their human rights. This occurs in mandatory detention centres in breach of Australias commitment to Universal Declaration of Human Rights which states Everyone has the right to seek and to enjoy in other countries asylum from persecution (United Nations 1995 p.1). A large number of asylum seekers are genuine refugees that are fleeing from atrocities such as torture, rape, imprisonment, threats of death and murder. Australias mandatory detention policy in conjunction with the lack of facilities and health treatment aggravates the trauma of these experiences and severely affects the mental health and well-being of asylum seekers. Furthermore, Australias lack of cooperation in providing facilities violates international human rights standards (UNHCR 2014). Recently, the movement of thousa nds of Syrian refugees make their way into Europe via Hungary was stopped and held in detention-like environment increasing asylum seekers trauma (Al Jazeera 2006). It is essential for nations to accept asylum seekers and provide them with care and facilities as they endure traumatizing experiences and flee prosecution. Figure 1.2 Irregular arrivals by sea, selected countries (Phillips 2015) Figure 1, (Irregular arrivals by sea, selected countries) shows the approximate number of refugees entering Australia and four other countries.   According to the figure, there is a great difference in the number of refugees entering the five countries. Further noted in Figure 1.2, the data provides information on the fluctuating number of refugees entering a country in a particular year within the given 7 years. This suggest that the refugee inflow into a country depends on the countrys refugee acceptance policy. However, in the case of Australia, there is a progressive increase in the number of refugees entering despite the stricter border policies. Lengthy delays and offshore processing    The length of time spent at detention centres by asylum seekers is indefinite and this aggravates the trauma as they remain uncertain of their future (Couldrey Herson 2013, p.7). In Australia there are long processing steps where the asylum seekers are interrogated of their reasons of arrival. This lengthens the time spent at detention centres for getting a humanitarian visa. From figure 1, Australia is one of the countries with lower asylum seeker intake. Despite the increase in asylum seekers entering Australia, it remains the only western country to have a mandatory detention policy.   Mandatory detention can take place by detaining asylum seekers offshore. A piece of legislation was passed requiring all asylum seekers arriving on Australian shores are sent to offshore processing facilities (Kaldor 2014, p.3). This legislation puts strain on asylum seekers by detaining them in centres with inadequate facilities but also on the finances of the Australian government (Kaldor 2 014, p.4). The lengthy processing system and sending asylum seekers offshore for processing is a disadvantage for both the government and asylum seekers. Issue Outcomes Mental Health Issues Mental health is a significant factor that needs to be addressed by the host nations government. Placing asylum seekers in detention centres for a long duration of time without providing the adequate facilities has a significant negative impact on asylum seekers mental health and well-being (Cornelis et al. 2004, p.848). Despite Australias low intake of asylum seekers, it has adopted harsh laws that fuel the trauma faced by asylum seekers. Some of the detention centres in Australia are located in remote regions where facilities are not easily accessible hence the asylum seekers are not able to address their mental health issues (Keller et al. 2003, p.1721). Research conducted 2 years ago shows that refugees living in Australian detention centres, suffered up to 19 chronic mental health conditions such as post-traumatic stress disorder, depression and social anxiety disorder. During the initial stages of the research, approximately 42% of adults and 59.1% of children showed symptoms o f mental health disorder (Hadgkiss et al. 2012, p.17). This result conveys that children are more vulnerable and are largely affected by mental health illnesses due to their experiences and lengthy stay at the detention centres. Social cohesion Asylum seekers who stayed in detention centres for a long duration and with inadequate facilities showed a slower rate of integrating into a new country as interviewed by the VU University Medical Centre of research due to mental health issues (Gerritsen Bramsen 2005, p.14). Those diagnosed with mental health issues could not easily or comfortably integrate into the new society. Close examinations of research suggests that the lack of facilities hinders the asylum seekers ability to enter a new society as most of them come from backgrounds where they have not had a chance to educate themselves. At the detention centres asylum seekers are kept idle and in solitary confinement which fuels their insecurities therefore inhibiting them to find opportunities and success once they are out of detention centres. Research also shows that many young asylum seekers between the ages of 6 to 15 that have come out of detention centres show a slower rate of learning in comparison to the local stude nts (Couldrey Herson 2013, p.9). Inadequate facilities degrades asylum seekers in an effective transition into a better lifestyle. Recommendations Mental Health Treatment Treatments and heath care facilities can reduce the impact of major issues such as pre-migration trauma, depression and anxiety. Such treatments at detention centres not only benefits the asylum seekers but also the Australian society as it is cost effective and creates jobs for Australian medical and health professions (Hadgkiss et al. 2012, p.23). Cases of mental health illness can reduce an individual life expectancy and can also lead to various other problems such as suicidal thoughts and violence. However, installation of programs that allows the asylum seekers to address their mental health issues can improve their mental health and also their lifestyle once they are released from detention centres. Key findings in studies show that the number of mental health issues such as alcohol abuse, drug abuse and violence reduces where proper treatment is provided which can be accessed (Keller et al. 2003, p.1722). This important step of providing health care will allow asylum seekers t o integrate into the society. Workplace skill development It is important to provide facilities that contribute to gaining skills so that when asylum seekers enter the new society, they are better able to find jobs and there is reduced imbalance in socio-economic status (Gerritsen Bramsen 2005, p.15). The lengthy processing time could be effectively used by the host nations government to install educational facilities that engage asylum seeker in workplace and work related skills such that they can find jobs much easier when they are out of detention centres. It is also important to provide education and language skills for young asylum seekers so that language does not act as a barrier but as an aid to get opportunities. It is vital to engage young asylum seekers in education as this will empower them and decrease the gap between them and Australian schooling standards (Phillips 2015). Taking this measure of providing facilities that may provide equal opportunity in getting employment once asylum seekers are out of detention centres is an effective way of not increasing unemployment rates and hence making a smooth transition into society. References Websites Al Jazeera 2006, Hungary seizes refugee train arriving from Croatia, viewed on 18 September 2015, http://www.aljazeera.com/news/2015/09/hungary-seizes-refugee-train-arriving-croatia-150919003810139.html> United Nations 1995, The Universal Declaration of Human Rights, viewed on 15 September 2015, http://www.un.org/en/documents/udhr/>. Journal Articles UNHCR 2014, Wars Human Cost, UNHCR Global Trends 2013, viewed on 10 September 2015, http://unhcr.org.au/unhcr/images/Global%20Trends%202013.pdf> Phillips, J. 2015, Asylum seekers and refugees: what are the facts?, Parliamentary Library of Australia, viewed on 8 September 2015, http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1415/AsylumFacts>. Keller, A., Rosenfeld, B. Trinh-Shevrin, C. 2003, Mental health of detained asylum seekers, The Lancet, vol. 12, no. 362, pp. 1721-1723, viewed on 15 September 2015, http://ac.els-cdn.com/S0140673603148465/1-s2.0-S0140673603148465-main.pdf?_tid=60f28634-5f74-11e5-bd3f-00000aab0f6cacdnat=1442739095_b3b162da84af0a2c0dd5353d4321195d> Couldrey, M.    Herson, M. 2013, Detention, alternatives to detention, and deportation, Forced Migration Review, vol. 18, no. 44, pp. 4-14, viewed 15 September 2015, http://www.fmreview.org/en/detention.pdf> Cornelis, J., Bettine, A., Hajo, B., Gernaat, E. Ivan, H. 2004, Impact of a Long Asylum Procedure on the Prevalence of Psychiatric Disorders in Iraqi Asylum Seekers in the Netherlands, NERVOUS MENTAL DISEASE, vol. 13 no. 12, pp. 843-851, viewed on 5 September 2015, http://www.researchgate.net/profile/Ivan_Komproe2/publication/8143453_Impact_of_a_long_asylum_procedure_on_the_prevalence_of_psychiatric_disorders_in_Iraqi_asylum_seekers_in_The_Netherlands/links/00b7d5304b6381a575000000.pdf> Hadgkiss, E., Lethborg, C., Al-Mousa, A. Marck, C. 2012, Asylum seeker health and well-being, St Vincents Health, vol. 24, no. 1, pp. 17-31, viewed on 20 September 2015, https://svha.org.au/wps/wcm/connect/cb7b96fc-6653-42ea-9683-749a184d3aed/Asylum_Seeker_Health_and_Wellbeing_Scoping_Study.pdf?MOD=AJPERESCONVERT_TO=urlCACHEID=cb7b96fc-6653-42ea-9683-749a184d3aed> Kaldor, A. 2014, Offshore processing: Australias obligations with respect to asylum seeker children who may be sent to Nauru, Never Stand Still, vol. 1, no. 1, pp. 1-9, viewed on 20 September 2015, http://www.kaldorcentre.unsw.edu.au/sites/default/files/Factsheet_Offshore_processing_asylum_seeker_children_BIA.pdf> Gerritsen, A. Bramsen, I. 2005, Physical and mental health of Afghan, Iranian and Somali asylum seekers and refugees living in the Netherlands, Original Paper, vol. 20, no. 3, pp. 12-19, viewed on 19 September 2015, http://epiresult.com/downloads/refugees/SPPE.pdf>

Perspectives of Organisational Culture

Perspectives of Organisational Culture What is organizational culture all about? How did the concept arise? The idea on culture in organizations is a concept drawn from anthropology (Meek, 1988). Culture is viewed â€Å"asa system of shared symbols and meanings† (Rossi and OHiggins, 1980 cited in Lee an Yu, 2004 p. 340). Culture in organizations can simply be referred to as an organizations way of life or way of doing things. Organizational culture has been defined differently by several writers. However, most of the definitions in use lay emphases on key elements such as, norms, traditions, values, beliefs and assumptions. Organizational culture can be defined as â€Å"the collection of relatively uniform and enduring values, beliefs, customs, traditions and practices that are shared by an organizations members, learned by new recruits and transmitted from one generation of employees to the next† (Huczynski and Buchanan 2007, p.623). There is little doubt that organizational culture is a broad topic which no essay can discuss in entirety, however this essay will discuss the two approaches to the study of organizational culture and aim to critically evaluate the ways in which managers attempt to control organizational culture, drawing examples from the Hewlett Packard video watched in class and previous experience of visiting Tesco stores. History forms part of an organizations culture and it can be transmitted consciously and unconsciously over time from managers to employees. For example, it can be transmitted in the form of stories and myths (Meek 1998, Kaye 2007, Taylor S., Fisher D. et al). (Dandridge, T., Mitroff I. et al) suggest that â€Å"stories, myths and symbolism, aid understanding of the deep culture and structure of an organization†. These stories and myths in an organization might be about the start up of the organization or on the remarkable successes of its founders. For example, in the Hewlett Packard video, it indicated that the HP history formed part of the HP way as a vast number of the employees were aware of the fact that the â€Å"founders (Bill and Dave) started the company in a garage, in 1939. They developed the oscillator, used by Disney in the movie Fantasia. The bell ringing tradition was introduced by Bill and Daves wives as a signal for their husbands to observe lunch or coffee times† (The gilded cage: video watched 23 November, 2009). According to (Schein 1985 cited in Huczynski and Buchanan 2007, p.624 630) culture is considered to exist in three levels. Level one is regarded as ‘surface manifestations. At this stage, the culture of an organization is easily seen by outsiders in its symbols, language or architecture. In the Hewlett Packard case, the open plan office adopted, manifests, the relaxed environment the employees work in, and it also suggests the ease of access, between managers and employees. Tesco is very customer-centric and this is displayed by each employees approach to customers which, conveys a message regarding Tescos organizational culture of putting smiles on the faces of the shopping public, hence, creating a pleasant shopping experience for them. The second level of culture is ‘values. This has its firm foundation on morals, awareness and religious or societal precepts and is usually displayed on websites of organizations. The last level of culture is ‘basic assumptions. T hese are assumptions preconceived by an individual of an organization such as how it operates and functions in its environment. Several writers hold different views on organizational culture. The three perspective framework developed by (Martin, 1992), integration, differentiation and fragmentation perspectives provide understanding on organizational culture. The Integration or unitary perspective regards organizations as clear, consistent and unified, believing that these integrating features may result in improved organizational effectiveness. The differentiation perspective views organizations as consisting of subcultures with diverse interests and different objectives while the fragmentation or conflict perspective, sees organizations as being in a constant state of flux. The integration or managerial perspective appears to suggest that there is a relationship between strong culture and improved performance. (Scholz, 1987 cited in Huczynski and Buchanan, 2007, p.623) argues that culture generates competitive advantage. However, sustainable competitive advantage, â€Å"must be rare, adaptable and non-imit able† this determines the strong cultural traits the organization possesses (Barney, 1986 cited in Huczynski and Buchanan, 2007, p.641). Is organizational culture controllable? According to (Meek, 1998 p.455) previous studies suggest that culture belongs to management, hence, it is â€Å"available for management to manipulate†. The functionalist perspective holds that culture can be controlled, as it is regarded as something that the organization has and gives to new recruits and they do not take part in the formation, hence, it can be used as a control device by management (Smircich, 1983). However, the social constructionist perspective, rejects the notion, that culture may be controlled as it holds that culture exists through the continuous interaction between the organizations members. (Ackroyd and Cowley 1990, Harris and (Ogbonna 1999, Ogbonna 1993, Willmott 1993 cited in Huczynski and Buchanan, 2007). There exist three forms of corporate control, bureaucratic, humanistic and culture control. â€Å"More than other forms of control, however, culture control elicits sentiment and emotion,  and contains possibilities to ensnare workers in a hegemonic system† (Ray, 1986, p287). (Deal and Kennedy, 1982 cited in Ray, 1986 p.289) echoes that â€Å"it is the explicit challenge to management to make†¦ people . . . have a strongly ingrained sense of the companys values† Thus, aligning with the functionalist perspective which, supports that culture can be controlled, managers can thus, control culture, by ensuring that employees hold fast to the custom and practice of the organization. For example, in the HP video, meetings were held regularly to check the progress of team members and also to convey information to the employees as the need arises. Job security was tied to performance. Objectives setting was done â€Å"top-down, bottom-up† (objectives were set by management and accepted by each employee). The management by wondering around (MBWA) style was in force, as it enabled managers keep abreast with happenings in the company, and employees likewise had accessibility to managers to discuss issues.

Of Mice And Men Essay examples -- English Literature

Of Mice And Men The novel ‘Of Mice and Men’ reveal life in the 1930’s. A time very diverse to ours. Steinback, the author of this novel wrote about various issues such as lifestyle of the travelling ranchmen, loneliness, friendship, the American dream, racism and sexism. The book is about two migrant labourers, George Milton and Lennie Small in California. Together they have a dream to save up enough to own a farm where George is his own boss and Lennie can have animal to feed and pet. But the failure of their dream is followed by many ironic twists. In this essay, I will be discussing the main issues Steinback raised through the novel about that lifestyle that revolved around ranchmen in the early 1930’s. The main characters are George Milton and Lennie small. Lennie in the novel is the least dynamic and largely mentally challenged. He has a tendency of petting soft things even dead mice and loves puppies and rabbits. He is enormously strong but emotionally dependant on his companion George who keeps reassuring him about their future. George the other character is Lennie’s best friend. He dreams of owning his own ranch. He is very short tempered but a loving and caring person. The author shows that both the main characters live a very simple life and carry their load in a small bindle which indicates that they did not have much to own. Both the ranchmen are lonely and depend on each other for companionship. When Lennie says â€Å"But not us because...because I got you to look after me and you have got me to look after you and that's why† clearly showing the friendship, strong bond between them and the reliance on each other. Steinback shapes the ranch where George and Lennie worked in as an isolated p... ...imes, the women had very few careers and were often seen as housewives to bear children or sex objects. For example, Curley always had his one hand covered in Vaseline with a glove to keep it soft for his wife when he made love to her. In the novel, Curley’s wife’s name was not mentioned at all. She was known as ‘Curley’s wife’ throughout to emphasis that she was nothing but a possession of Curley. Curley’s wife herself did not think much of her life either because she was brought up around the same narrow minded people. This approach of men towards women was clearly partial. Overall I found the novel quiet depressing and sad. Steinback described the most critical issues of the 20th century in great depth. He’s narrative method was unremarkable but effective in a simple way and was well written by Steinback to show the tough period in American history.

Biological Terrorism: Our City Streets as the New Battlefield Essay

Biological Terrorism: Our City Streets as the New Battlefield The last 60-70 years of the twentieth century might be called the modern era of biological warfare. During this period, nation states developed biological weapons to be used on a far-away â€Å"European battlefield†. Even after ratification of the Biological Weapons Convention of 1972, the most impressive BW program in the history of mankind continued for 20 years, effectively cloaked in secrecy. Yet between 1970 and 1990, little thought was given to the possibility of a biological warfare or biological terrorist attack on US cities. Funding for biological defense in the US was minimal and most of the federal government was oblivious about the threat. In fiscal year 2000, the US government has committed more than $1.5 billion to military biodefense and another $1 billion to domestic preparedness for biological attack. What happened? In 1991, the US decisively engaged the Iraqi force, demonstrating vast conventional technical superiority while the world watched on CNN. Shortly thereafter, with economic implosion in the Former Soviet Union, our concern turned to the fate of tens of thousands of Russian scientists and engineers who had developed an impressive programÃâ€"which may never be surpassed in scale or offensive capability. We feared that lesser nations might turn to now jobless Russian bioweaponeers for help in building their â€Å"great equalizer.† All this occurred with a backdrop of increasing evidence that the dual-use nature of bioweapons programs might make treaties unverifiable. Here at home, the equally dual-use biotechnological revolution screamed forward while novels imprinted the horror of bioterrorism on our minds and experts proclaimed that â€Å"there are no... ...se who would use these breakthroughs for evil---taking away their freedom through effective intelligence programs and law enforcement---we will be more likely to stay steps ahead as we use the technologies for good, and provide an additional deterrent to the threat. Bioterrorism presents a daunting problem to our free society, especially at the unique intersection of politics and biotechnology that occurred during the last decade of the 20th century. We may have been lulled by our prosperity and strategic isolation from major conflict into a sense of invulnerability. However, we are vulnerable todayÃâ€"and there is no reason to believe that will change in the near future. We must carefully evaluate the real threat, make the hard cost-benefit decisions and continue to build a fully integrated defense against the distortion of biology by those who would do us harm.

Personality and the Beast Within in The Strange Case of Dr. Jekyll and

Personality and the Beast Within in The Strange Case of Dr. Jekyll and Mr. Hyde Everyone has a dual personality, two sides, good and evil. Robert Louis Stephenson uses the book to explain this, he wanted people to realise that not only Dr Jekyll carries a double personality, but the other characters in the book too. Also the people reading it must see that they too, are a part of this frightening uncontrollable fact, that there is â€Å"the beast within† us all. Stephenson suggests that all gentlemen keep secrets, suppress emotions, desires, and hide their true inner self. In the story Mr. Utterson is a great example of a gentleman (lawyer) needing to suppress his less socially acceptable side for the sake of preserving his respectable standing in society. ‘Though he enjoyed the theatre hadn’t crossed the doors of one for twenty years’†¦ ‘Utterson was austere with himself’. Drinking only alone, having the security of knowing that he is the only person who might witness and therefore judge him, the respected gentleman could appear a little out of control. Mr.Utterson feels that if he indulges in luxuries such as these, he may become too involved and express himself freely, he’s frightened that he could ruin his image and loose his respectable reputation. Mr. Utterson hides his other side whereas Jekyll shows it, by choice or not. Once the theories of scientists such as Charles Darwin, Herbert Spencer and T.H Huxley became known people began to think of the human struggle between good and evil and psychological terms. Ideas such as ‘The theory of evolution’ and the ‘survival of the fittest’, contradicted the teachings of the Old Testament, and lead many people to question Christianity. However many people w... ...cheap area reflecting the lives of Jekyll and Hyde. ‘†¦London, with excursions into low-life neighbourhoods, it too is about appearances and reputations, and involves an individual whom who lives a double life of outward pity and secret corruption. Jekyll uses the ugly deformed Hyde as his body double’†¦ The ‘Beast within’ is studied in this book. The most obvious case of this is within Dr. Jekyll and, Mr Hyde, however it shows in the others too, not only in this book in the whole of civilisation. Once Dr. Jekyll has captured life for a while he is not just one, but two, Hyde is constantly struggling to get out, each fighting for control. Robert Louis Stephenson tried to show that everyone displays a certain threat from their other side, fighting to escape from their desired image and that it is not just apparent in this Gothic novel but within everyone.

Blind Side

Letter: Dear Sean Tuohy, Over the last couple of months you and your outstanding family have provided everything I have every wanted a ‘family’. My life growing up consisted of running, drugs, unreliable parents a couch and others aspects. I have faced many obstacles and challenges in my life. I have been through some things no child my age should have to experience. I have learnt to face my everyday challenges by facing the fact that I can get through it, plus the support of others was very helpful, and knowing someone on earth would be having a worse day.When I was a young child I had many scaring and frightening moments. I have seen a lot of habits my mum got into, taking drugs and being a big disappointment to my family. Then I soon later found out I had 12 brothers and sisters. My mother would tell me to shut my eyes when I was scared or anything she didn’t want me to see, after that she would then tell me to count to 3 and then I could open my eyes. I suffer ed a lot as a child and faced a lot of hardships, I struggle to learn but yet I can apparently write?You and your family have given me hope and believed in me. I have been through a lot and watching my mum throw her life away doesn’t mean I was going to follow in her footsteps. After I crashed your car with SJ I thought you weren’t going to trust me again, but yet you gave me so much more. You took me under you wings, you gave me an education, and you let me go to college. I’m so grateful that someone has given me the opportunity to prove myself to them and let me show them who I am and my potentials.I am glad that I could I write to you to express how I feel. I struggled a lot and I use to be a quiet and shy boy, but now I am a confident and free spirited person and you and your wife have given me reason to believe again. Thankyou From Michael Oher Discuss what your character learnt: In the movie, Michael Oher’s character capabilities change majorly. Thr oughout the film, he grows from a shy, unschooled boy into a young man who fits into a family. The film begins with Oher as a homeless boy struggling to find a place to sleep.He then learns to become a more confident and sophisticated man. Michael Oher has grown and learnt a lot of skills and matured into a young intelligent man. He learnt that because his childhood was so traumatic doesn’t mean he is traumatised for his whole life; everything can change when you start believing. Michael struggled a lot being a foster child, being black, moving and living not with his family, and yet they are complete strangers to him that he would often run away and try and find his mother again.When he meet the Tuohy’s He grew a lot stronger in that because he was living with a Christian, wealthy family who took him in without any weight on their shoulders just out of kind heartedness. He also learnt that he didn’t have to be the smartest to achieve what he wanted he had to wo rk rad and be persistent, to stay focused. He grew so much into a star having every quality that a magnificent football player need but only some granted with this special ability. Michael learnt that being whoever you are or being whatever you wanted was you!! He had a very distraught childhood and often struggling to once believe again.He was always a determined to get what he wanted especially as a child. Michael has grown up so much, from not trying and struggling to read to now getting 2. 52 in his final result meaning he could do what he wanted for footy. He had the skills to get in but did not have the determination of getting and staying focused. Michaels tutor was a massive bonus to him and was a great peer leader. She encouraged him and helped him improve his marks a lot. Along with the hardships Michael has faced he learnt that there is always a light at the end of the tunnel.He has grown and learnt so much and he is so lucky and happy to be able to have the opportunities he has been offered let alone half. Review: The blind side has proven to be a wonderful structured film, as it has been based on a true story it gives it a bit more of a overlooking and understanding of the abilities and inabilities this boy has been through. A family of all white has taken this black boy in, he would’ve felt un-invited, not fitting in and questioning why they are being nice especially when there from the complete other side of town.Michael struggles to take in that a family of complete strangers is offering there house and couch to him. The Blind Side is a film about compassion, prejudice, family, chance, and the virtues of hard work. It tells the inspirational true story of Michael Oher, of a disadvantaged African-American child, and his relationship with Leigh Anne Tuohy, a wealthy white woman from the other side of town the rich and wealthy side and he is from the dirty, disgraceful, depressing side. They help him out with a lot of situations. They provi de a wonderful education, house, family.After his mother being a fall out he tried to get his life back on track by believing he could be different and show that he could do anything if you put your mind to work. Michael Oher shows a massive and exciting interest in football and Leigh Anne Tuohy does not hold back on the enthusiasm for him. He has been born with skills that a person could dream about, even though Michael Is a big boy these skills come in handy when he gets a number of offers to be in a professional team. They then provide Michael with a tutor to improve his grades to get him into NCCA div 1.Athletic scholarship. This young man growing up in Memphis would only dream of being able to professional football or any real contact with a ball, he was born too and all of a sudden his dream came true and was right in front of his eyes because of the Tuohy’s. I believe the film deserves a rating of 5/5, when you look at the poster or the movie cover or the book cover yo u don’t know what to expect, but then you get a great message from the film inspiring everyone to show that â€Å"if you believe you can achieve†.The message is trying to explain that you can be in any situation and find a way out of it, if you try and work your way out of it. It was a fantastic book based on a real life story. It’s very inspiring and proven to everyone that you can be from somewhere that struggles into someone who is wealthy. Bibliography: The blind side 2009, DVD, warner bros, Hollywood http://www. imdb. com/title/tt0878804/plotsummary, http://www. pacejmiller. com/2010/02/24/movie-review-the-blind-side-2009/

Code of Ethics for Professional Accountants Essay

The code tole runs a patternual frame stretch forth water b dictate on to the deed of the vestigial principles of maestro persuade1. meetness dear and trust.Accountants must non be associated with discoverputs that persuade stuffly false or cheapjack postulatements contain info furnished recklesslyomit or obscure randomness where much(prenominal) would be mis track2. objectivityMust be im pieceial, h sensationst and bring out from conflicts of sideline Intrinsic completelyy linked to independence, maestro independence is seen to be a subset of integrity and objectivity.3. professional competence and everywheredue rushMaintain professional knowledge and skillApply diligence4. confidentiality5. professional conductthe conceptual mannequin approach follow in the Code is principles- found, setting frontwards the principles as well as rules of conduct.Threats self-seeking menacesSelf-review flagellumsAdvocacy threats promoting a position or opinion that com promises objectivity Familiarity threats a c drop away-fitting selectinghip where iodine(a) becomes too appealing to early(a)s Intimidation threats actual or comprehend and is a deterrent from acting objectively An intimidation threat to an accounts objective or competence and due c atomic number 18 whitethorn arise where the accountant ispressured by a client. Normative theories of ethical motiveNormative theories of moralsNormative Theories of ethicsTeleological consequentialRight from defective is fixd from takingss or consequences of a ending or action Identify consequences ( be and benefits) for each alternative course of action match the ratio of costs and benefits (both frugalally and morally) launch a s circus tentping transportDeontological non-consequential and rule deontology Consequences ar irrelevant The distinguished is the intention to do the sound topic or the enquire to be found call up befittingly extending from a sense of duty. One dose the right thing simply beca phthisis it is the right thing to do regardless the consequencesEgoism A right or accept fitting ending is one that maximises net compulsive benefits to oneself. sess be restricted if self- involvement is move indoors the law and f send(a) aspiration Utilitarianism Does non sharpen on oneself A right purpose is one that produces the sterling(pre nominative) to the greatest flake of potRights A decision provide only be ethical if its intentions do non a lot the rights of s stop thrusters Rights allow jural, compressual, special, particular, natural and constitutional rights moveIdentify the rights particular to the s makeholderensure the decision is logical with respecting such rightsJustice Foc purposes on distri thative skillfulice which refers to the fair and re precededistribution of benefits and burdens ProcessIdentify the benefits and burdens shell out the benefits and burdens to the different stakeholdersDecide wheth er the destruction of benefits and burdens is fair and equal Aristotle on justice Equals should be treated equally and unequals should be treated unequally.M 3Types of conductorsDirectors advance of handlersNot mired in day-to-day decision-making (AWA ltd v Daniels) Must cook procedures ar in place to project major(ip) operational exserts atomic number 18 brought to its attention,Directors capableNon- self- order directors Can be decision maker director directors free Directors Free from any regulate which would preconceived opinion the decisions Free from any connections Should non been remunerative accord to achievement achieved Not leaved in the patronage on a day-to-day basis Still call for to demonstrate a duty of c atomic number 18, as yet whitethorn non equal to an executive director with professional qualificationsExecutive directors Occupying and hold an office as an executive in the connection Will never be nonparasitic Can be compensable on dressance baseNon- self-sufficient non-executive directors Should non been paid according to serveance achievedDuties of directors (4.62) vitiate conflicts of interest and where these exist, ensure they be befittingly decl bed and, as postulate by law, former(a)wise manipulated purifyly typify in the outgo interests of the baseball club (the nominee director must ever act in the best interests of the lot and use their designer only for victorian purposes when making a decision on wit to which they nonplus been appointed as a director) cover discretionary causalitys and avoid deputation the directors business Exercise origins for proper purposes (act within their king do non abuse their power) motivate with c be, skill, and diligence (the criterion of c ar provide be distinct for a director with professional qualifications and a non-executive director) Be in organise about the corporations trading operationsCommittees of the shape up 3.19 aspira tion Enhance the effectiveness of the advance, and particularly of non-executive directors. change the distribution of workload to allow a much detailed projectation to be given to important matters Provide an indie berth in relation to issues which involve conflicts of interest It do non skip the responsibility of the come on as a whole and care consumes to be interpreted to ensure that all touch on empathize their live ons The visiting card of directors is still un particular(a)ly prudent for decisions make by sub military commissions The delegation of duties enables test of issues in greater detail and word of honor of issues in the absence of focal point Requires compose bounds of reference for each sub charge and procedures for account to the full table Except for true situations where study charges are compulsory, it is up to boards to determine whether to pick up the missions and, if so, which commissions are pre runed.Committee primaeval soul a(s)MembershipRisk focal pointEnsure trusted stake is assessed, lowstood and fitly managed OECDdose non make specialised recommendations about committees nominating speechRecommending the succession procedures within an governing body Appropriate to involve executive directorsMajority of independent directors ( UK FRC CGC)Remuneration conceive with profits-especially for ripened executivesPreferable to not include executive directorsFor large companies, at to the lowest degree 3 independent non-executive directors (UK FRC VFV) inspect monetary policy coverage and inspect mattersOversight of cozy pictureOnly non-executive directors, with bulk be independent, independent pass, at least 3 members Only independent directors (Sarbanes-Oxley consummation)For larger companies, at least 3 independent non-executive directors and at least one member with late and relevant fiscal experience (UK FRC CGC) calculates on corporal GovernanceReport cay focalizeCountryCadbury (1992)Best use of goods and service recommendations for board and committee multiplex body parts comply or relieve if a participation chose not to comply with a establishment recommendation, the corporation had to identify the noncompliance and then explain it to share declareers UKGreenbury (1995)Directors compensationAdditional recommendations designed to call down f crude in relation to directors stipend UKHampel (1998)Replaced the Cadbury and Greenbury worksupercode, adopted into the listing rules on the London Stock Exchange UKHiggs (2003)Non-executives directorsUK smith (2003)Audit committeeUKCOSO 3.351994 Internal control a process designed to provide resonable assurance regarding the achievement of objectivesCalPERS (pension fund investor) pull back the type of brass it expects to see from companies USSarbanes-Oxley Act (2002)Strengthened audit requirements, change magnitude monetary revealings and requires mgmt certification of internal controls USHilmer ( 1993)Improving board governance to advance union exerciseAUSBosch (1995)Corporate Practices and Conduct, a radical of the committee chaired by heat content Bosch AUSRamsay (2001)Produced by a committee chaired by Ian RamsayExamined the adequacy of Australian legislative and professional requirements regarding the independence of external auditors and made recommendations for changes Did not recommend a ban on the provision of non-audit services to audit clients. Instead, he recommened that the divine revelation requirements be enhanced. AUSHarris (1997)3.43Four channelize principles that should be employed to achieve more(prenominal) effective governance by boards in the public sectors. AUSUhrig (2003)3.43Considered the existing governance ar purgements for statutory authoritiesfinding a number of opportunities for improvement. The circulate also found a lack of effective governance for several(prenominal) of the authorities due to a range of concomitantors. Lack of boar d experience and expertise, unneurotic with the potential for conflicts of interests, are impediments to good performance. check powers of the board to a statutory frame when compared to the private sector.AUSAudit reform abate auditors to perform certain non-audit services scatter of audit partners after 5 eldCorporate Accountability from each one caller must establish an audit committee drawn from members of the board of directors. The members of the audit committee must be independent. chief operating officers and CFOs must confess that the financial writings filed with the SEC do not contain untrue statements or material omissions Financial disclosures and loansCertain in-person loans by a corporation to its executives are forbidden Annual reports filed with the SEC must state that mgmt is responsible for the internal control grammatical construction and procedures for financial reportage, and include mgmts sagacity of the effectiveness of those internal control struc tures and proceduresCalPERSAn institutional investor which uses its considerable power as a provider of capital to force integrated governance improvements as it deems appropriate. Minimum mworn to which grocery store places doneout the workd should adhere in mold to attract its funds.Public SectorAustralia 2003 ASX CGC Recommendations (revised in 2007 and 2010)If not, why not principle, and requires existence of audit committee in Australian top ergocalciferol listed companies. 2004 Corporate Law economical Reform Program (CLERP) 9 secernate changes include audit reform and financial reporting. ASX CGC Principles and Recommendations 2010 (If not, why not principle) In 2003 ASX produced a list of best drill principles and recommendations on corporeal governance and updated them in 2007 (when the term best practice was secluded from the title) and 2010. ASX CGC 2007 recommends audit, remuneration and nominating speech committees. These are therefrom humble to the if n ot why not rule. Audit committee is mandatory for top 500 companies in Australia. For top 300 companies, reputation of audit committee is also define in mandatory footing tokenish 3 members, all non-executive directors, majority to be independent, and independent chair who is NOT Board Chair. PrincipleKey aspectsLay self-coloured foundations for commission and superintendenceRole and responsibilities of board and management should be established and give away Structure the board to add prizeComposition and size of board to drop off its responsibilities and duties Promote ethical and responsible decision-making make-up of a code of conduct and change policySafeguard integrity in financial reportingAudit committee to safeguard the integrity of financial reporting by the caller Make by the bye and sense of equilibriumd disclosureDisclosure of all material matters bear uponing the follow find the rights of shareholdersFacilitate the effective exercise of shareholder rig htsRecognize and manage endangermentsRisk oversight and management frames internal controlsRemunerate more or less and responsiblyLevel and composition of remuneration link to performance4) International OECD Principles of Corporate GovernanceFeb 2010 OECD commentary noted the splendor on issues of remuneration, risk management, board practices and exercise of shareholder rights, given the catastrophic performance observed from GFC. BRT 2010 Principles and the US practice are perhaps part of the reason for OECDs lack of any imperative statements on the issue that chairman and CEO should not be the same person.International perspectives on bodily governance foodstuff based system of governanceEmphasises aspiration and market processesRelationship-based system of governanceEmphasise reconciling relationship and consensusMost established the US and the UKHave great influence on the rest of the worldHistorical intensiveness of the US and UK capital marketsGrowth of their corona tion institutionsAdopted by Australia and parvenu Zea gainRelies on the representation of interests on the board of directors long-run large shareholders give the family a degree of security system from both the threadbaremarket and the threat of takeover Widespread equity monomania among individuals and institutional investors, with institutions often having large shareholdings Institutions including insurance companies, pension funds, and mutual funds. A supervisory board for the oversight of management, where banks play an dynamical intent, inter- in bodilyd shareholdings are widespread and, often, companies consumes close ties to governmental elitesShareholder interests as the primary focus of company lawAn emphasis on minority shareholder nurtureion in securities law and regulating Insider groups superintend management that often acts under their control besotted disclosure requirementsDisclosure based market since numerous investors depend on vex to reliable and adequate development flows to make informed investment decisions. The berth fuss of the market-based system is much less of a problem in the relation-based control The role of the banks is less centralCorporations often accommodate arms length relations of equity markets Corporate finance in such countries is bluely dependent upon banks, with companies having high debt to equity ratios Banks often go for complex and long-standing relationships with corporations ( shadower be debtors and shareholders at the same time) The market-based system assumes full disclosure of tuition, strict affection to trading rules and a liquid stock market. The intimater system is based on a deeper but more s pick outive exchange of information among privilegedrs It is hard for institutional investors to switch their shares when they are unhappy with the management or board, they become more engaged with companies they are investing in.US food marketThe board of directors is entrusted with a n important responsibility to monitor the company on behalf of shareholders. It is common for the chair of the board and the CEO to be the same person CommitteesPurpose to enhance the oversight function of boards and detain the powers of CEOs. Tasks the remuneration of executive directorsNomination of tender board membersKey decisions in respect of auditingMany large investors n earlier monitor the corporal governance practices, however, in practice, shareholder in the US possesses check power to appoint or remove directorsDifferences among European countriesCompany law is introduce in antithetical and often eccentric political cultural and societal traditions. assorted groups of people have the right to elect the members of the supervisory board. Articulate the purpose of bodily governance in various slipway. Laws and regulations relating ti the equitable treatment of shareholders including minority rights in takeovers and other transactions, vary signifi kindletly am ong countries. dissimilar integrated board structures exist.Variations in disclosure requirements and the resulting differences in information provided to investors are a potential impediment to a oneness European equity market.GermanyRelationship-based character in which all interested stakeholders are able to monitor corporate performanceFranceFrance and Italy are the European countries with the smallest self-command of company shares by financial institutions. The majority of shares traditionally have been owned by non-financial enterprises, which reflect and work up structure of cross and circular ownership. In France, half the firms are controlled by one single investor who owns the absolute majority of capital. Asiatic approaches of relationship-based systemsSignifi do-nothingt national differences in corporate governance policy and practice, and many countries are still engaged in a process of institutional development Government-controlled organisations perform roles th at are consistent with the broad brotherly aims of the government, and their governance structure and processes reflect slow government influence and control. Most companies in Asia all have a majority shareholder or a glutinous group of minority shareholders who act unitedly to control the company. Companies with widely dispersed ownership are rare in Asia, therefore it is difficult to nurture the rights of minority shareholders. The boards of directors of companies in Asia often serve a nominal andsometimes superficial role. Disclosure and transparency are often minimal, making it more difficult for regulatory authorities to take action. The lack of institutional shareholders and fund managers presss the achievement of external observe by properly institutions. exclusively countries concerned are act to a reform of corporate governance due to the 1997 Asian financial crisis. lacquerThe formal legal features of the Japanese corporate governance system resemble those in most other advanced industrial countries (Corporate law in Japan was modelled on the German System). In Japan, the board plays a more strategical and decision-making role, and is drawn from the ranks of management who are employed by the company. Thus, in the West, the board members are outsiders representing the shareholders in Japan, the board members are insiders chartering management. As a result, the role of Japanese boards may be considered superficial both in supervision the executive management and in responsibility for the company. Problem there is a determination for the size of boards to grow as more managers need to be rewarded.Ownership structurekeiretsus essentially sets of companies with interlocking business relationships and shareholdings. The major keiretsus are centred on one bank. Each bank has pregnant control over the companies in the keiretsus and acts as a monitor entity and as an emergency bail-out entity. Advantage downplay the incidence of hostile tak eoversDis emolument corporate control being restricted flake studies of governance failureEnronAsset-lite companies unencumbered by physical assets and heavily dependent on their intangible assets. SPEs allow the of import Enron business to apparently expand without incurring change magnitude on-balance sheet debt.HIHFailure inadequate corporate governance checks and balances lack of financial and managerial diligence and control and a misconceived and content strategyWeaknesses apparent in different casesThe risk management systems have failed in many cases due to corporate governance procedures rather than the inadequacy of computer models alone. Boards had ap turn up strategy but then did not establish suitable metrics to monitor its implementation. Company disclosures about foreseeable risk factors and about the systems in place for monitoring and managing risk have also left-hand(a) a lot to be desired. accounting standards and regulatory requirements have also proved ins ufficient in some areas leading the relevant standard setters to undertake a review. Remuneration systems have in a number of cases not been closely link to the strategy and risk appetite of the company and its longer term interests.UK FRC CGC sectionalization A LeadershipA.1.1 The board should meet sufficiently regularly to discharge its duties effectively. A.1.2 The annual report should identify the chairman, the deputy chairman, the chief executive, the senior independent director and the chairman and members of the board committees. A.2.1 operationalises the A.2 principles by stating that the CEO and chair should not be the same person.Main principles application comply or explain divide B EffectivenessB.1.2 Except for smaller companies, at least half the board, excluding the chairman, should settle non-executive directors determined by the board to be independent. A smaller company should have at least two independent non-executive directors. B.2.1 states that there should be a nominationcommittee which should lead the process for board identifications and make recommendations to the board. This committee should have a majority of independent directors, and it apparent that executive directors may be on this committee. The committee should be chaired by an independent director or the board Chair. B.2.3 identifies that non-executive directors should be considered conservatively after they have completed six years service on the board. B.3 Directors should be able to spend enough time to do the job properly and that appointment procedures should identify the expected commitment. B.4 Directors are appropriately informed upon joining the board through a proper induction syllabus and by provision of appropriate live training. B.5 Directors who make decisions without adequate information are in rupture of their duties. (Company Secretary and the Chair, as well as all directors) B.6 The board is responsible fro evaluating its own performance and the per formance of the committees. B.7 Controversially, regular re-election to the board for all directors should, in large companies, be conducted as a great deal as annually according to B.7.1 persona C AccountabilityC.1 The board should present a balanced and understandable judging of the companys position and prospects. C.2 The board must select and define the risk appetite of the company, and it must plan strategies and operations accordingly. C.3.1 An audit committee should be formed and that its membership should meet the requirements. 1. members should be independent no-executive directors 2. for smaller companies, there should be at least two and, for larger companies, at least one- trinity, independent directors on the audit committee. 3. in smaller companies, the board chair may be on the audit committee but may not chair the committee. 4. At least one member of the audit committee should have recent and relevant financial experience. C.3.2 The main role and responsibilities of the audit committee should be set our in written terms of reference. C.3.4 Audit committee is the means by which whistleblowing is correctly managed although the term is not utilise in the code C.3.5 The audit committee should ensure appropriate decisions are made about internal audit functions.Section D RemunerationD.1 Remuneration should be sufficient to attract the right people to be directors but should not be excessive. Recommendations regarding the remuneration directors, and especially the performance- colligate remuneration of executive directors, is key work to be undertaken by the remuneration committee. D.1.4 Remuneration committee should cautiously consider remuneration commitments related to early termination and poor performance. D.2.1 The board should establish a remuneration committee comprised of independent non-executive directors. Must comprised of at least two persons fro smaller companies and at least three for larger companies. D.2.4 Shareholders should be invited to approve new executive incentive schemes and changes to existing schemes D.2.3 Non-executive remuneration should be determined by the board or by the shareholders. If permitted by the company constitution, the board may delegate this work to a committee which expertness include the CEO.Section E Relations with shareholdersE.1 negotiation should lead to mutual understanding of objectives. E.2 Boards need to make sure that all shareholders are informaed about annual general meetings and have proper information and the proper hazard to vote.M 4Shareholder conceptThe principal focus of our discussion in this module is on the Anglo-American derivative duties approach to stakeholders. Competitors are treated as stakeholders, stakeholders can also be environment.Agency possibility and delegated powersAgency relationship a switch off under which one or more persons engage other person to perform some service on their behalf which involves delegating some decision making aut hority to the agent. If both parties to the relationship are protect maximisers, there is good reason to believe that the agent go out not al shipway act in the best interest of the principal.Assumptions underlying agency hypothesis either individuals exit act in their own expedience. With potential conflict of interest in the midst of the principal and the agent, the agent leave tend to act first in ways that will maximise their own individualised circumstances Agents are in a position that allows them to further their own interests including at the expense of the principals, as a result of the decision-making power they have been granted and the fact that agents have better access to and control of the information.DelegationDelegation is available unless the corporations constitution provides otherwise. It is common practice for boards to delegate day-to-day operational powers to the CEO but not extensive strategic decision-making powers.Agency theory costs equilibrium b olshie any loss or cost or under-performance arising from theses decisions or actions by the agent, represents a residual loss of measuring rod out to the principals.Over utilization of perks (perquisites or perks are incidental benefits gained in addition to income) Def the use of such benefits in ways that exceeds expected levels. Effect reduce both profitability and cash flow available for distribution to shareholders.Empire makeDef acts by management to increase their power and influence in a company for reasons associated with personal satisfaction, including, but not limited to, large financial rewards for having a bigger job. Effect such personal aggrandisement may have lesser or no congruence with company profitability or success.Risk turning awayDef minimise the downside risk that may affect their continued employment. Effect the organisation may therefore underachieve, with higher returns forgone, representing a loss of value to the shareholders.Differing timehorizons Any management approach that is inconsistent with shareholders interest will demonstrate a lack of interest alignment or close congruence. It can be ca utilize by managers self-interest (only current year performance or performance during fix duration), or misunderstand in the midst of shareholders and managers.Monitoring CostsIncurred by principals. autocratic annual reporting and external auditing discretionary construct and analyse activities according to a strategic or Balanced wagBonding CostsFully borne by the agent, not the principal.Many costs may be conceptual rather than clam costs.Restrictions on freedoms are bonding costs borne by agents.Remuneration issuesBoth earnings for work undertaken and for additional rewards that, in agency relationship, ideally will relate to set superior performance that recognises and encourages goal-congruent behaviour by the agent.Non-executive directorsShould not be paid according to performance achieved.Executive directorsKey focus o f the non-executive directors who form the remuneration committee New regulation came into place after the globular financial crisis to ensure that remuneration committees should not have executives as members.Has an important role in ensuring that agents are correctly compensate fortheir performance and to motivate them to achieve goal congruence. Remuneration structure should not be designed so that self-seeking executives could slander corporations Executives should receive performance payments that are guardedly structured. Disclosure and transparencyEmployees and ConsumersNew Australian Consumer Law protections against misleading potential employees. whistleblower laws and rules that are becoming very important internationally Laws that prevent legal and other damage to employees (and others) who appropriately del with suspicions of wrongdoing inside organizations Precise rules must be followed if protection is to follow through to the whistleblowers.In Aus, the Corporati ons Act protects an employee ifThey report to the right (listed) people onlyThey are not anonymous andThey are not acting maliciously.Consumers and customersUnconscionable Conduct harbor customers and business consumers where stiff parties to a contract use that power in ways that are sufficiently unfair as to be recognized as exorbitant. Parol licence additional words in the midst of the parties could not change the clear meaning of a written and signed contract. Dowsett v. Reid (1925) 15 CLR 695 the parol show should not apply because of the overall evil in the case. Commercial Bank of Australia v. Amadio (1983) hiatus on the ground of unconscionable conduct will be granted when unconscientiously advantage is taken of an innocent party whose will is overborne so that it is not independent and voluntary, just as it will also be granted when such advantage is taken of an innocent party who though not deprived of an independent and voluntary will, is inefficient to make a wo rthwhile model as to what is in his best interests. Tests for unconscionable conductBargaining powerWere the conditions oblige on the consumer evenhandedly necessary to protect the legitimate interests of the corporation? Was the consumer able tounderstand any of the documents used? Was any extravagant influence or pressure exerted on, or were any unfair tactics used against, the consumer? Was the amount paid for the goods or services higher, or were the circumstances under which they could be acquired more onerous, when compared to the terms offered by other providers?Where a person uses inside information for their own or a related partys benefit and/or bring outs inside information to somebody whom they ought to have foreseen may use the information inappropriately. Identifying whether the information has been get windd in such a way that it is available to investors in relevant market Identifying whether a person who understands markets would demoralize or sell a security were they to know that information. A person who possesses inside information must not use it or disclose it, as such use or disclosure is what truly comprises insider trading. Competition and protecting markets for goods and servicesMergers and eruditionIn many jurisdictions, regulations are in place that prohibit or limit mergers and acquisitions unless they are formally approved.Abuse of Market powerThe prohibition on defile of market power is aimed at preventing reigning entities from taking advantage of that market power for the purpose of disadvantaging weaker org Main principleMarket powerMisuse of that power (used that power to eliminate a competitor or prevent a competitor from incoming or properly competing in the market). E.g. vulturine determine, the tag on of goods or services at a lower place cost over a current of time. It is prohibited because the likely real want is for the company to eliminate competitors who cannot sustain the current losses of sellin g below cost. ACCCAgreements between competitors Cartel ConductTests1. Has there been a contract, agreement or understanding2. Has this occurred b/t competitors3. Is the arrangement for the purpose of collusionCompetitor collusion has a special term cartel, which including Output restrictionsApply restrictions on output what will cause shortages in markets and thus result in legal injury rises Allocating customers, suppliers or territoriesDividing up markets, customers or regions b/t competitorsBid-riggingCompetitors who are asked to tender or bid for work colludePrice-fixingCompetitors collude to create common prices (parallel conduct and price-following are legal) Midland Brick case 4.36 Both company and a seinor manager are order to pay civil penalties .International airline pricing cartelUnilateral restrictions on supply (exclusive dealing)A single corporation decides to deal only with certain customers or geographic regions. This type of conduct is generally permitted, but prohibitions may exist if it is shown to lessen competition satisfyingly. 3 characteristics that appliedIt is not cartel conduct.The unilateral refusal to deal will be unlawful if there is a substantial lessening of competition in a market. Third-line forcing a supplier forces a customer to also purchase another item from a third-party. Case Ku-ring0gai concerted building society ltd (1978) 36 FLR An seek by a building society to force a would-be borrower to take out mortgage insurance with a nominated insurer was in breach of the law.Resale price maintenanceA supplier stipulates that the goods it provides must only be resold at orabove a certain minimum price. Two testsHas the supplier contract a minimum price?Has the supplier taken action or try to enforce this minimum price? If a reseller sell the product below cost, it is legal for supplier to withhold supply in order to prevent the reseller from losing leading with a suppliers products. Proof, penalties and redress ne farious and civilCriminal penalties v gracious penaltiesCriminal cases are always carried out by agencies of the state and never by individuals or corporations. Any aggrieved party can bring an action for a civil case.For civil case, the standard applied is a proof based on the balance of probabilities rather than proof beyond middling doubt as in guilty cases Neither parties will be punish by jail or fines in a civil case, as these apply only in wretched cases. The mash may award damages to the wound party may apply injections and make other orders such as rescission of contracts in civil cases. Even third party dropped the case, ACCC can still run short against wrongdoers on civil or criminal grounds.Redress and penalties for anti-competitive breachesRedress is the ways in which wrongdoers can be required to correct the harm they have caused. Penalties are different from remedies as they are meant to punish a wrongdoer, thus, penalties goes beyond simply redressing wrongs. In Aus, criminal breach of cartel provisions may lead to individuals being fined hundreds of thousands of dollars, and up to 10 years jail. Fines for corporations can be as high as $10 million.M5CSR makeupWhy choose to provide proper(postnominal) information about CSR-related information (Voluntary process)ethically motivation (Accountability-based) Organization owns an duty to various stakeholders Driven by concerns that stakeholders rights to know are being fulfilledEnlightened self-interest (managerial-based) Economically focused motive to use affable and environmental reporting to protect or enhance shareholder valueThe reason an entity choose to report will in turn inform the decision as to whom it will be directedWill seek to address the information needs of a wider range of stakeholders who might be most impacted by the operations of the entityThe target recipients of reports will in turn inform what information will be disclosed and what issue the amicable and environ mental reporting should report development to demonstrate accountability for those aspects of the operations for which they are deemed to be accountable, such disclosures would arguably be more objective Normative theory prescriptions or shoulds, ideals Such disclosures will lead to community support and potentially positive financial implications Stakeholders who are regarded as more important or with more influence will attract additional endeavour and attention from managers (reporting information to inform the powerful stakeholders) ( enlarge in 5.23) Limitations of traditional financial reportingAustralias current conceptual framework (AASB framework for the preparation and presentation of financial statements) Embrace a shareholder primacy perspective with a narrow notion of accountabilityThe practice of discounting future cash flows win us to shift problems of an environmental nature onto future generations. If we discount future obligations, then, in the current period,t hey may not be considered to be materialDefinition of the elements of FRAsset (must be controlled by the entity)The consumption of assets which are not controlled by the entity will not be recognized as expenses (usage of public goods which are not interchange in market transactions) ExpensesBased on the definition of asset, use of pick air and water will not be recognized as expenses unless fines are imposed.ExamplesRetrenchments in response to the global financial crisis (did not count the expenses of people who lose their jobs) support Bank of Australia increase the interest rate in 2010 to increase profit (did not count the plight of those people who lose their homes) Just-in-time approachIncrease the traffic congestion, and contaminantResultsenvironmental cost is borne by the community.Provides a disincentive for investment in clean technologies.Issues of reliable measurement and prospectEnvironmental cost can not been measure as normal liability since because of the cha nce issue Many companies used the issue of measurability in number of situations as a rationale for non-disclosure, for provisions.Thus, the related parties would not know the true extent of the organisations environment-related obligations.The entity self-confidenceRequire the entity to be treated as an entity distinct from its owners, other org and other stakeholders. Externalities caused by reporting entities will typically be ignored Performance measures are broken from a broader societal perspective.Key point of import reports (Module 5) genuineness Theory (BHP WESTPAC)An organization will take action to manage community perceptions in order to pull round Try and convince stakeholders that it is acting with an agreeable level of ethical and moral strong belief whilst pursuing its main objective Legitimacy itself is considered to be a resource on which an org is dependent for survival The theory relies on the notion that there is a accessible contract b/t the org and the s ociety in which it operates Org must appear to consider the rights of the public at large, not exclusively those of its investors Legitimacy is assumed to be influenced by community perceptions (which can be influenced by disclosures of information), and not simply by (undisclosed) changes in corporate actions Org will be penalized if they do not operate in a manner consistent with community expectations showdown the expectations of the community can protect or enhance profitability CSR report could be a central strategy to maintaining corporate legitimacyBCA report about the regulation of CSR reportIn favor of no regulation needed for CSR reportAll drivers analysis by the BCA are fasten to maximizing the value of business The motivation are tied to managerial debate rather than border ethical considerations notify freely operating markets will lead to the resolution of many existing neighborly and environmental problemsPJCCFS 2006 the final report regarding the CSR in 2006Ado pted the same position as that promoted by BCAIn favor of not supporting the introduction of legislationWith an interpretation of current legislation, the enlightened self-interest is the best way forward for Australian corporationsThe Brundtland ReportEmpirical evidence consistent with legitimacy theoryPatten (1992if the Alaskan oil spill resulted in a threat to the legitimacy of the petroleum diligence, and not just Exxons, then legitimacy theory would advise that companies operating within that industry would move by increasing the amount of environmental disclosures by the petroleumcompanies for the post 1989 periods, consistent with a legitimization perspective. This disclosure reaction in truth took place across the oil industry Deegan and Rankin (1996) Australia studyPublic disclosure of prove environmental prosecutions has an impact on the disclosure policies of the firms involved Deegan, Rankin & Tobin (2002)Positive correlations b/t negative media attention for certa in tender and environmental issues and the volume of disclosures on these issues Islam and Deegan (2010)For industry-related social and environmental issues attracting the greatest amount of negative media attention, corporations react by providing positive social and environmental disclosuresCurrent regulations for CSR Reporting internal Greenhouse and Energy Reporting Act 2007 (NGER Act)Who are regulatedUltimate Australian holding company of a corporate group is required to apply if its exceeds one or more of the four wands (5.42) What need to be reportedGreenhouse waste emissionsEnergy productionEnergy consumptionOther info specified under NGER legislationRequirements embodied within the Corporations Act and accounting standards S 299(1)(f) of the Corporations ActRequires that in the directors report, which must be included in the annual report, directors must give details of the entitys performance in relation to environmental regulations if the entitys operations are subject to any particular and significant environmental regulation under a law of the Commonwealth or of a State or Territory S 299 A of the Corporations ActListed companies are required to include in the directors report any information that shareholders would reasonably required. (operations, financial position, and business strategies and prospects for future financial years) However, no specific requirement to disclose financialimpacts. Obligations relating to environmental performance could be considered to be included in either provisions or contingent liabilities, depending on the circumstances. However, many entities choose not to disclose such information due to the probability and reliable measurement issues. Contamination to land caused by the construction of particular arrange shall be included as part of the total cost of the property, plant and equipment, with an homogeneous amount being included in the liability provisions of the entity National Pollutant recordDesigned t o generate political and economic incentives for industry to move towards cleaner productions Requires industrial facilities operating in Australia to estimate emissions of 93 substances exceeding a specified threshold amountEnergy Efficiency Opportunities Act 2006Encourages large vital force-using businesses to improve their energy readiness by requiring business to identify, evaluate and report publicly on cost-effective energy savings opp